Bob, have you ever signed the front of a paycheck? Ever written the checks to cover the overhead costs of running a business? Ever sat at your kitchen table with your wife on a Sunday, going over your family's business accounting, trying to figure out how keep your prices competitive, while squeezing every last penny you could into the payroll budget to keep the good and loyal employees from seeking greener pastures - all while making sure there was enough to pay all your suppliers, creditors, and your advertising bill?
Not to mention that fact that you and your wife ought to see a paycheck somewhere in that mix. Have you ever done that, Bob?
I have. More times than I can tell you.
The fact is, there is only so much pie to go around in any business. McDonalds restaurants may do lots of business, but there's only so much any one store can carve off for payroll. Just like there's only so much they can charge for a Big Mac. At the end of the day, you can only pay your employees what the market will support.
If your customers would be happy with a 100% increase in the cost of your goods and services, then you'll have no trouble doubling your employee's wages. If not, then it's not something that's within your ability to make happen.
“Not to mention that fact that you and your wife ought to see a paycheck somewhere in that mix. Have you ever done that, Bob?
I have. More times than I can tell you.
The fact is, there is only so much pie to go around in any business. McDonalds restaurants may do lots of business, but there’s only so much any one store can carve off for payroll. Just like there’s only so much they can charge for a Big Mac. At the end of the day, you can only pay your employees what the market will support.”
Yes I have.
If the company can’t pay wages that even keep their employees just a bit below the poverty line, then by the free market principle, shouldn’t they close the doors.
Also we’re not talking about a family run small business like the one you described. We’re talking about a national chain. Someone pointed out that the stores are franchises but they still have a lot of heft from being part of a national chain.
If the only way they can stay open is by paying substandard wages, or hiring illegals, then hasn’t the free market spoken?